Best Buy to Close 50 U.S. Stores
Store closures will result in layoffs for 400 U.S. Best Buy employees.
Best Buy officials announced Thursday the electronics retailer will close 50 of its U.S. stores and lay off 400 employees at corporate and support levels. On the flip side, the company aims to open 50 stores in China in fiscal year 2013. Northern Virginia has 10 Best Buy stores, including stores in Springfield on Frontier Drive and in Fairfax at Fair City Mall. Specific stores targeted for closure have not been announced. The news comes after the Richfield, Minn.-based company released its fiscal year fourth-quarter earnings, showing a $1.7 billion loss. The news of closures and downed profits are not a surprise to many. Best Buy reported shortfalls after its third quarter, and a January 2012 Forbes article suggested the company is …
BurkePatriot
9:58 am on Tuesday, April 3, 2012
Susan, I did have the comment on topic. The last two I did was to shove the attack back but truthful. No worries. I will be on topic of our jobs. I do enjoy your factual reporting. It is a breath of fresh air. That's why I read your articles. Thank you. In Liberty, more ›